Bitcoin, Ethereum ETFs Shed $112M as Hyperliquid Funds Extend 8-Day Win Streak
Bitcoin and Ethereum spot ETFs experienced $112 million in outflows as derivative funds capitalized on market momentum. Hyperliquid futures extended an 8-day winning streak, signaling trader confidence despite spot market weakness. BTC traded near $77,150 with minimal movement, while ETH remained stable around $2,120. The divergence suggests institutional investors rotating into leveraged positions rather than direct holdings.
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Bitcoin caught between critical onchain support and an options showdown
Bitcoin is trapped between critical support at $74,500 and resistance near $77,000, with $6.6 billion in Deribit options expiring May 29. Large put positioning at $75,000 and call concentration at $80,000 incentivizes market makers to suppress volatility. Over 15% of bitcoin's supply sits within the $74,000-$83,000 range, creating significant supply compression and limiting price movement for Indian traders monitoring entry points.
